USDA reported the US soybean harvest at 89% complete, up from 75% a week earlier, and the corn harvest at 54% versus 37% the prior week. Rainy, cool weather earlier in the season damaged crops, and more rain is expected in the corn belt later in the week.
Harvest progress is roughly in line with expectations and mostly removes near-term weather premium, though renewed rain could slow the remaining corn harvest and support prices slightly.
After 768 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, SOY moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.